Company Registration No. 06469680 (England and Wales)
PAIRSTECH CM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017
PAGES FOR FILING WITH REGISTRAR
PAIRSTECH CM LIMITED
COMPANY INFORMATION
Director
E Danieletto Esq
Company number
06469680
Registered office
1st Floor
12 Old Bond Street
Mayfair
London
W1S 4PW
Accountants
Perrys Accountants Limited
Chartered Accountants
12 Old Bond Street
London
W1S 4PW
PAIRSTECH CM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
PAIRSTECH CM LIMITED (REGISTERED NUMBER: 06469680)
BALANCE SHEET
AS AT
30 APRIL 2017
30 April 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Investments
2
696,212
-
Current assets
Debtors
3
38,742
83,751
Investments
4
240,098
234,230
Cash at bank and in hand
139,498
349,912
418,338
667,893
Creditors: amounts falling due within one year
5
(1,028,122)
(622,930)
Net current (liabilities)/assets
(609,784)
44,963
Total assets less current liabilities
86,428
44,963
Capital and reserves
Called up share capital
1,000
10
Profit and loss reserves
85,428
44,953
Total equity
86,428
44,963

The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and signed by the director and authorised for issue on 7 February 2018
E Danieletto Esq
Director
PAIRSTECH CM LIMITED (REGISTERED NUMBER: 06469680)
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2017
30 April 2017
- 2 -
PAIRSTECH CM LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2017
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2015
10
-
10
Year ended 30 April 2016:
Profit and total comprehensive income for the year
-
44,953
44,953
Balance at 30 April 2016
10
44,953
44,963
Year ended 30 April 2017:
Profit and total comprehensive income for the year
-
40,475
40,475
Issue of share capital
990
-
990
Balance at 30 April 2017
1,000
85,428
86,428
PAIRSTECH CM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017
- 4 -
1
Accounting policies
Company information

Pairstech CM Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, 12 Old Bond Street, Mayfair, London, W1S 4PW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable and is shown net of VAT and other sales related taxes.

 

 

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PAIRSTECH CM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

PAIRSTECH CM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
- 6 -
2
Fixed asset investments
2017
2016
£
£
Investments
696,212
-
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 May 2016
-
Additions
696,212
At 30 April 2017
696,212
Carrying amount
At 30 April 2017
696,212
At 30 April 2016
-
3
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
3,354
-
Other debtors
35,388
83,751
38,742
83,751
4
Current asset investments
2017
2016
£
£
Other investments
240,098
234,230
PAIRSTECH CM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
- 7 -
5
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
839
10
Trade creditors
497,837
91,534
Corporation tax
13,331
11,238
Other creditors
516,115
520,148
1,028,122
622,930

Included in other creditors is a loan totalling £463,564 (2016: £390,869) which is secured by a suretyship granted by the director and a pledge agreement over registered securities between the lender and borrower.

6
Related party transactions

Included in other debtors is a balance owed by an entity in which this company is a member totalling £31,457. (2016: £232,252 creditor)

 

Included in other creditors is a balance owed to the same entity detailed above totalling £122,500.

 

During the year the company made purchases totalling £279,574 from the entity.

7
Directors' transactions

Included in other creditors is a directors loan account balance totalling £155,420. (2016: £83,741 debtor)

 

Included in trade creditors is a balance owed to the director totalling £83,630.

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